U.S. Secretary of Commerce Gary Locke Announces $1.8 Million Investment to Create Jobs, Strengthen Economy in Batesville, Arkansas
May 28, 2009
Contact: Bryan Borlik, (202) 482-4085
Grant Expected to Create 390 Jobs and Generate $120.4 Million in Private Investment
WASHINGTON - U.S. Commerce Secretary Gary Locke today announced a $1.8 million Economic Development Administration (EDA) grant to the city of Batesville, Ark., to help renovate a machining facility for use by Emerson Climate Technologies, a manufacturer of commercial compressors. The project is expected to create 390 jobs and generate $120.4 million in private investment, according to grantee estimates.
"The Obama Administration is committed to creating jobs, encouraging innovation and improving our nation's competitiveness," Locke said. "This grant will create new jobs and boost private investment by renovating an existing facility for use by a major commercial manufacturer."
The Department of Commerce is a voice for Main Street businesses. It focuses on creating jobs by fostering innovation and opening markets to U.S. products. Locke is a key member of President Barack Obama's economic team.
EDA is an agency within the U.S. Commerce Department and supports the economic development needs of distressed communities throughout the United States. Its mission is to lead the federal economic development agenda by promoting innovation and competitiveness and preparing American regions for growth and success in the worldwide economy.
Additional information on how EDA investments are helping distressed communities create a positive and sustainable economic future can be accessed at: http://www.eda.gov.